Considering the core meaning of the Bulgarian Future as presenting an action &#8220;posterior to the moment of speech&#8221;, many scholars explain its modal uses as derived by the context. In contrast with previous studies, we argue that future time reference is not symmetrical with the past and has a branching time structure giving rise to different temporal frames of reference. We show that the posteriority of a situation (aspectualized as a state, a process or an event) is understood as being posterior to a reference point situated in a not-actualized temporal reference frame. The Future in Bulgarian can therefore be described as posterior to the enunciative temporal reference T&#8320;, or in relation to an indirect speech act or any other temporal reference providing a prospective view, whether in the past or ongoing.